If an employing broker refuses to pay one of his or her licensees compensation according to the terms of an employment contract, the licensee may. License law prohibits a salesperson or associate broker from accepting compensation from anyone other than his or her employing broker (604 (a)(12)). An agreement between a rental listing referral agent and a prospective tenant must contain the rental specifications desired by the tenant, such as location and rent (35.335). 121. D) 119. 3. Earnest money deposits are not required as part of an agreement of sale. 142. 106. The original listing agent. I strive to inform and educate my clients during the home buying process. The associate broker cashed the check because he felt it was earned. Advising parties on the significance or consequence of contract terms is engaging in the practice of law and should be avoided. Upon passing the license exam a candidate is qualified to apply for a license. 27. 2. 1. 68. -hiring a director who keeps records of the meetings. The commission also promulgates rules and regulations (404) and reports to legislative committee's (408). 150. 109. 116. C) The Pennsylvania Real Estate Commission may undertake an investigation of a licensee based on all the following grounds EXCEPT. 3. When advertising real property for sale, real estate salespeople. When is a violation of the license law on the part of a salesperson grounds for revocation or suspension of the license of the employing broker? The State Real Estate Commission must include five members who shall at the time of appointment be a licensed and qualified broker under the existing law (202). Which of the following is a requirement that the salesperson must comply with when advertising on the internet? Renewal fees established by the commission must also be paid. What fines may be imposed by the Commission for rules violations? 28. The broker has fulfilled his obligation under the terms of the listing contract with the seller by procuring a ready, willing, and able buyer and is therefore entitled to recover his agreed-upon compensation. 24. The salesperson wants to pay the assistant a percentage of the commission, "because the assistant has really earned it." A commercial office building sold for $1,000,000. 120. In this situation, the individual. The requirements for mandatory continuing education requirements apply to real estate brokers and real estate salespersons only. 55. C) National Real Estate Practice Exam FreeAlso, a transfer of rights and Indiana Real Estate Commission Flashcards | Quizlet To remain in active practice, the affiliates are required to find new employing brokers. He may not sue the buyer and cannot retain the deposit as compensation. Which of the following actions on the part of the broker are legal and not a violation of the license law? 2. An exclusive-right-to-buy contract must be in writing and contain a specific termination date. Under the equitable right of redemption in Pennsylvania, the borrower. Which of the following should be included in the listing contract? Both parties must consent to the dual compensation. 127. Who has authority to withdraw funds from the broker's escrow account for payments that are properly chargeable to the account? An unlicensed individual acting as a real estate consultant negotiated a sale of property and was unable to collect the agreed upon fee from the seller.
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